Lazarus Chosen as CEO for Planned TSB Heartland Bank

Heartland Group Holdings has announced that Leanne Lazarus will be the CEO of its planned TSB Heartland Bank, which is set to emerge from the merger between Heartland Bank and TSB Bank. The endorsement comes after a robust competitive selection process, according to Panel chair Bruce Irvine.

The Establishment Panel, comprising directors from both banks, has signalled that Lazarus will lead the integration and future growth strategy for the enlarged challenger bank. This is contingent on the completion of Heartland's acquisition of all TSB shares from Toi Foundation and the Reserve Bank of New Zealand's non-objection.

Both banks are expected to continue operating under their current leadership in the interim, with regulatory approvals and detailed transition and leadership plans still being finalised. The group is working with Toi Foundation on governance and integration structures for TSB Heartland Bank.